The Turkish Official newspaper published, the text of the law amending the terms of granting Turkish nationality to foreigners in exchange for buying property, operation, investment and deposit in Turkish banks.
According to the new law, a foreigner can acquire Turkish nationality if he buys a property or many properties worth more than $250k, instead of the previous value of $1m, provided that the property is not sold within 3 years.
In another amendment, the requirement to deposit a sum of money in Turkish banks in exchange for citizenship has been amended. The condition stipulates the deposit of $ 500,000 from $ 3 million in the previous law.
Another amendment provided for a reduction in the value of fixed investment in exchange for citizenship, as the capital required for this investment was reduced from $ 2 million to $ 500,000.
In addition, the entrepreneur, who provides employment opportunities for 50 Turkish citizens, has been able to obtain Turkish citizenship, having previously been required to employ 100 citizens.
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